This archived Tech Pro Research report, originally published in October 2013, is available for free to registered TechRepublic members. For all the latest research reports, 100+ ready-made policies, IT job descriptions, and more, check out Tech Pro Research
. From the report:
Big Data is a term that resounds across various business realms involving diverse organizational aspects such as finance, marketing and information technology.
Tech Pro Research conducted a survey in August 2013 to examine Big Data trends in the enterprise. Our goals included determining where investments were being allocated, how these endeavors were paying off and whether the topic of Big Data has justified the surrounding publicity.
We talked to 144 respondents worldwide from a range of organization sizes across various industries. Respondents told us whether they have implemented Big Data and, if so, what benefits it has yielded. We looked at how they budgeted for Big Data, whether they expanded their workforce or sought outside experts for these implementations and in which sectors/regions their companies operate. We even gained insight into reasons why some companies have rejected Big Data.
We found that nearly half of respondents across all company sizes were either directly involved in Big Data or planning to be. Furthermore, those who had implemented the concept did so without “breaking the bank,” though over a third of respondents reported higher costs than they had calculated. Significantly, more than 75% of the companies who have invested in Big Data have witnessed payoff from their endeavors, with nearly a third reporting “a clear and compelling return on our investment.”
In short, Big Data is not a fleeting, ethereal concept to funnel money into without result. Neither is it a “flavor of the week” type of trend but rather a burgeoning industry that is well on its way to a solid establishment across organizations of all stripes.